The new energy world order

Michael Klare , author of Rising Powers, Shrinking Planet: The New Geopolitics of Energy:

There are few countries — perhaps a dozen altogether — with enough oil, gas, coal, and uranium (or some combination thereof) to meet their own energy needs and provide significant surpluses for export. Not surprisingly, such states will be able to extract increasingly beneficial terms from the much wider pool of energy-deficit nations dependent on them for vital supplies of energy. These terms, primarily of a financial nature, will result in growing mountains of petrodollars being accumulated by the leading oil producers, but will also include political and military concessions.

In the case of oil and natural gas, the major energy-surplus states can be counted on two hands. Ten oil-rich states possess 82.2% of the world’s proven reserves. In order of importance, they are: Saudi Arabia, Iran, Iraq, Kuwait, the United Arab Emirates, Venezuela, Russia, Libya, Kazakhstan, and Nigeria. The possession of natural gas is even more concentrated. Three countries — Russia, Iran, and Qatar — harbor an astonishing 55.8% of the world supply. All of these countries are in an enviable position to cash in on the dramatic rise in global energy prices and to extract from potential customers whatever political concessions they deem important.

We have seen the future, and regardless of who wins the election we're not going to be in charge.